Amazon buying Whole Foods for $13.7B

Amazon will pay $42 US a share or $13.7 billion in cash for Whole Foods’ shares, a 27 per cent premium to what Whole Foods was worth on Thursday.

Amazon’s own shares gained $23.54 US in reaction to the news on Friday to close at $987.71 US on Nasdaq.

Whole Foods shares closed at $42.68 US on Friday — just above the offer price, which suggests some investors think a better offer from someone else could be coming. The grocer must pay a $400 million US break fee if the deal falls apart.

The company recently rolled out a few locations of something called Amazon Go, which is essentially a small grocery store with no cashiers.

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Source: Global News

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